Rosa Mine - Update

RNS Number : 6665A

Regency Mines PLC

27 March 2017

 

REGENCY MINES PLC

("Regency" or the "Company")

Rosa Mine - Update

27 March 2017

Regency Mines Plc announces, further to the announcements of 27^th February and 9^th March 2017, progress at Carbon Minerals Corporation's Rosa metallurgical coal mine ("CMC" and "Rosa") located in Alabama, United States of America, in the Warrior Coal Basin. Regency owns 20% of CMC.

Key Highlights:

·     Over 6,000 tons of third party coal washed at Rosa preparation plant with first payment to CMC due end-month

·     A further amount of c6,000 tons arriving to site for washing; further contract for 5,000 to 10,000 tons per month under negotiation

·     Testing period and washability studies at preparation plant have enabled further improvements and part replacements

·     Highwaller contractor on site and ready to start coal operations

·     Mining license extension approved enabling submission of mining plan; CMC expects approval this week enabling mining to begin

Andrew Bell, Chairman of Regency Mines, comments: "Progress has continued, with necessary adjustments to the permits to enable use of a higher capacity drilling method creating only minor slippage in our timings. We expect sales and movements off site of mined coal in early April; we may achieve (but may just miss) our more ambitious target of first mined production by the end of March. This is a great milestone for us, and further announcements will be made as we bring the mine on stream".

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

For further information, please contact:

Andrew Bell 0207 747 9960                                                  Chairman Regency Mines Plc

Scott Kaintz 0207 747 9960                                                   Executive Director Regency Mines Plc

Roland Cornish/Rosalind Hill Abrahams 0207 628 3396    NOMAD Beaumont Cornish Limited

Jason Robertson 0129 351 7744                                           Broker Dowgate Capital Stockbrokers Ltd.

 

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